Gold Pulls Back Before NFP After Its Strongest Week in Two Months - FXEmpire

AI desk brief

• Spot gold eased early Friday before U.S. payrolls at 13:30 GMT but remained up about 5% for the week. Weaker jobs could temper rate-hike expectations and support bullion; the source reports December hike odds of 69.1%.
• The analyst is cautiously bullish daily: a secondary higher bottom at $4,008.62–$3,975.98 would strengthen that view; failure below $3,975.98 would weaken it. Trading through $4,146.92 would negate the reversal top, with resistance near $4,197.46–$4,197.47.
• The weekly bias remains bearish. A close above $4,069.54 would weaken that outlook and open a challenge to $4,217.39; a close below could expose $3,870.32. The longer-term outlook hinges on the 52-week average at $4,449.67.